Chapman Company obtains 100 percent of Abernethy Companys stock on January 1, 2020. As of that date, Abernethy has the following trial balance:

	Debit			Credit
Accounts payable				$	56,400
Accounts receivable	$	43,900
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		217,000
Cash and short-term investments		76,750
Common stock					250,000
Equipment (net) (5-year remaining life)		367,500
Inventory		96,500
Land		122,000
Long-term liabilities (mature 12/31/23)					182,500
Retained earnings, 1/1/20					396,250
Supplies		11,500
Totals	$	935,150		$	935,150

During 2020, Abernethy reported net income of $103,500 while declaring and paying dividends of $13,000. During 2021, Abernethy reported net income of $145,250 while declaring and paying dividends of $47,000.

Assume that Chapman Company acquired Abernethys common stock for $800,660 in cash. Assume that the equipment and long-term liabilities had fair values of $390,450 and $151,340, respectively, on the acquisition date. Chapman uses the initial value method to account for its investment.

Prepare consolidation worksheet entries for December 31, 2020, and December 31, 2021.